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As US Dollar Weakens, Emerging-Market Currencies Are Back Up After Wild Year
Emerging market currencies rose Tuesday, bolstered by expectations that the US Federal Reserve is done hiking interest rates, but most Latin American currencies slipped on concern that the recent rally had run too far, too fast. The benchmark MSCI EM Currency Index advanced 0.2%, paring its early gains that had put it on track for its best annual performance since 2017. Minutes from the US Federal Reserve’s latest meeting showed policymakers were united around a strategy to “proceed carefully” on future interest-rate moves. Emerging-market stocks edged higher for a second day. Meanwhile, stocks in Argentina ... (full story)